Student, Liquid Asset, and Homeownership Restrictions at Deeply Affordable Communities

Students Restricted

Full-time students:

To be eligible, households may not include full-time students over the age of 18, unless the student(s) can meet one of the following exceptions:

Exceptions to full-time student restrictions:
  • Have a dependent child(ren).
  • Receive assistance under Title IV of the Social Security Act, also known as Temporary Assistance to Needy Families (TANF).
  • Are enrolled in a job training program receiving assistance under the Workforce Investment Act or under a similar federal, state, or local program.
  • Were previously under the care and placement responsibility of the State agency (Foster Care)
  • Students are married and entitled to file a joint tax return

Part-time students:

To be eligible, households may not include part-time students over the age of 18, unless the student(s) can meet one of the following exceptions:

Exceptions to part-time student restrictions:
  • Meets any exception for full-time students as listed above
    OR
  • 24 years of age or older.
  • Veterans of the U.S. military.
  • Persons with a disability.
  • Living with a parent who is determined to be eligible.

Liquid Asset Restrictions

To be eligible, households’ liquid assets may not exceed $55,000.* A liquid asset is defined as cash on hand, or any asset that can be readily converted to cash. Applicants over the age of 55 or persons with a disability may apply for a waiver to this limit.

*This restriction does not apply at Canyon Pointe or Glen Willow

Homeownership Restrictions at Broadway East, Woodlands and Lee Hill

To be eligible, household members cannot currently own a property that can be legally resided in.